Most Popular
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Yoon, Lee end first talks with differences, agree to meet more
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What is Hybe’s next move?
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China outpaces Korea in smaller OLED shipments for 1st time
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[Grace Kao] Hybe vs. Ador: Inspiration, imitation and plagiarism
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[Herald Interview] Mom’s Touch seeks to replicate success in Japan
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Police to open alleged stalking probe over pastor over Dior bag scandal
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'Queen of Tears' finale sets record viewership ratings as tvN's most-watched series ending
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[News Focus] Lee tells Yoon that he has governed without political dialogue
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KT launches new mobile plans for foreign residents
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Seoul to deploy more military doctors to fill med prof void
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S. Korea's auto exports edge down in Q1
South Korea's exports of autos declined for the first time in seven quarters in the January-March period amid global supply chain disruptions and Russia's war with Ukraine, customs data showed Thursday. The country's outbound shipments of cars came to $10.93 billion in the first quarter, down 0.6 percent from the previous year, according to the data from the Korea Customs Service. Autos accounted for some 7 percent of South Korea's exports. It marked the first on-year fall since the second qu
April 28, 2022
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Samsung Electronics profit jumps 51% on strong server chip demand, S22 Ultra sales
South Korean chip-to-consumer electronics giant Samsung Electronics posted a record quarterly revenue for three quarters in a row and logged a 51 percent increase in operating profit in the first quarter, its earnings guidance showed Thursday. Samsung Electronics said the solid chip demand for servers and high-end applications, as well as strong sales of the Galaxy S22 Ultra, which started replacing its Note lineup this year, dwarfed macroeconomic uncertainties and supply chain issues due to Ru
April 28, 2022
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[Graphic News] Incheon Airport becomes world’s No. 2 in cargo handling
Incheon Airport, the main gateway to South Korea, became the world’s second-busiest cargo airport in 2021, up one notch from the previous year, a trade body said. Incheon International Airport handled 3.23 million tons of international cargo, up 18.6 percent from a year earlier, according to the Airports Council International. The airport, some 40 kilometers west of Seoul, ranked third in the world in terms of international cargo handling in 2019 and 2020. Hong Kong International A
April 28, 2022
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Seoul shares open slightly higher amid Fed rate hike woes
South Korean stocks opened slightly higher Thursday as worries about an economic slowdown from the US Federal Reserve's widely expected interest rate hikes sapped investor appetite despite reports of sound corporate earnings this week. The Korea Composite Stock Price Index (KOSPI) added 9.57 points, or 0.36 percent to trade at 2,648.63 in the first 15 minutes of trading. Shares traded mixed across the board. Market heavyweight Samsung Electronics was up 0.15 percent to 65,100 won, after reportin
April 28, 2022
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S. Korea to stabilize FX market amid won's sharp weakness: minister
South Korea's top economic policymaker said Thursday the government plans to take measures to stabilize the foreign exchange market, if needed, as the Korean currency has fallen against the US dollar at a fast pace. Finance Minister Hong Nam-ki made the verbal intervention as the Korean currency hit an over two-year low against the greenback Wednesday amid heightened external economic uncertainty. "The government is closely monitoring the FX market in a bid to curb (the won's) excessive o
April 28, 2022
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Hyundai Mobis taps ex-Mitsubishi exec to head Japan unit
Hyundai Mobis, the auto parts making unit of Hyundai Motor Group, said Wednesday it had tapped Yukihiro Hattori and Ryoichi Adachi as president and vice president of Hyundai Mobis Japan to strengthen sales and the intake of orders there. Hattori, who most recently served as director of purchases at Mitsubishi Motors, and Adachi, who had supervised purchases at Mazda Motor, will respectively oversee sales and orders, the Korean firm said. “They have over 40 years of experience at J
April 27, 2022
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Kia unveils its first purpose built vehicle Niro Plus
Kia unveiled the design and the functions of its first purpose built vehicle Niro Plus, which has been developed based on its flagship electric vehicle Niro EV. The carmaker said Niro Plus, the spinoff version of Niro EV which has been launched in 2018 also as hybrid and plug-in hybrid models, has been invented to satisfy customers’ various needs. The vehicle comes in two variations: A model dedicated for taxi drivers and another one designed for individual purposes or corporate use. I
April 27, 2022
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DataStreams CEO speaks about big data cooperation in Kazakhstan
Data Streams CEO Lee Young-sang attended a conference in Kazakhstan on April 15 to discuss the country’s information and communication technology and share the company’s big data technology. About 80 people, including Kazakhstan’s IT minister and vice ministers, attended the forum, titled “Appraisal of the Needs-Assessment Survey Results on Digitalization,” to discuss digital transformation, according to the company on Tuesday. At the event, the CEO shared the c
April 27, 2022
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Former Citibank Korea CEO to head Blackstone’s Korea office
Ha Yung-ku, a former CEO of Citibank Korea who later led an association of local banks, was named chairman of the Korean office for Blackstone, the asset manager said Wednesday. Ha joined Blackstone in August last year as an executive adviser. “South Korea is one of the most innovative economies in Asia with a highly sophisticated workforce and domestic corporations that are influencing trends around the world,” Blackstone said, adding that it expects to build stronger ties in the p
April 27, 2022
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KRX lifts trading halt on Osstem Implant after monthslong break
The Korea Exchange said Wednesday that Osstem Implant would begin trading Thursday, lifting a trading suspension put on Jan. 3, when the dental implant maker reported insider theft amounting to 221 billion won ($175 million). “The decision is based on the fact that the company has improved its corporate governance and internal oversight and had it checked up by outside experts,” the KRX said in a statement. The bourse operator said such improvement was necessary for the implant ma
April 27, 2022
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Outpacing Hyundai, SK becomes 2nd-largest conglomerate in South Korea
South Korean chip-and-telecom giant SK has become the nation’s second-largest conglomerate, replacing Hyundai Motor for the first time in 12 years, a local antitrust regulator said Wednesday. Having accumulated over 291 trillion won ($230 billion) in total assets, SK took the number two spot, largely due to increased assets and sales in its chipmaking arm SK hynix. The semiconductor unit’s acquisition of Intel NAND memory business along with expanding income boosted SK’s overa
April 27, 2022
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NH Investment & Securities launches London corporation
NH Investment & Securities said Wednesday that it has incorporated its office in London to oversee the brokerage’s entire operations in Europe, seven years after it first opened a branch there to expand alternative investments like private equity and real estate. “This new office in London will be the bridge connecting markets in South Korea, the UK and Europe,” said Jeong Young-chae, the company’s president and chief executive officer. NH Investment and Securities
April 27, 2022
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Steel, textile to see benefits under CPTPP: biz lobbies
SEJONG -- South Korea is projected to see export growth in the steel and textile sectors if the nation becomes a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. But sectors like machinery, fine chemistry and auto parts could suffer handicaps in the wake of the technology gap with Japan, according to forecasts from a variety of business lobbies. The associations delivered their outlook of each industry if the country were to be a member of the CPTPP to the M
April 27, 2022
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Seoul stocks fall sharply on economic slowdown woes; Korean won hits over 2-yr low
South Korean stocks closed lower Wednesday, as investor sentiment was dampened by deepening concerns over a global economic slowdown amid high inflation and the continued antivirus lockdown in China. The local currency fell sharply against the US dollar. The Korea Composite Stock Price Index (Kospi) lost 1.10 percent, or 29.25 points, to close at 2,639.06. Trading volume was moderate at 1.06 billion shares worth 12.40 trillion won ($9.81 billion) with decliners outstripping gainers 695 to 193. F
April 27, 2022
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[Photo news] In Memory of Yun Bong-gil
Starbucks Korea CEO Song ho-seob (third from right), Rep. Yun Ju-kyung (second from right) and Myung No-seung, chairman of the Patriot Maeheon Yun Bong-gil Memorial Association (third from left) and Yun Yeo-du, president of Maeheon Yun Bong-gil Woljinhoe (second from left) pose for a photo after Starbucks Korea donated 20 million won ($15,800) and 1,932 tumblers to the two associations to mark the 90th anniversary of Yun’s death. Yun, Korea’s independence activist, died after killing
April 27, 2022
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Ourhome sibling feud reignites over management control
A sibling feud over Ourhome, a Korean food company, has reignited as Koo Bon-sung, Ourhome’s former vice president and the eldest heir, launched a legal challenge against his sister and Vice President Koo Ji-eun. Koo Bon-sung and Koo Mi-hyeon, the eldest sister of the Koo family, released a statement Tuesday saying that they have filed a requisition to Seoul Southern District Court to convene a temporary shareholders meeting. They are seeking to pass a vote to appoint 48 new board of dir
April 27, 2022
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Nexon targets global market with new games
South Korean game maker Nexon looks to expand its position in the global market with a series of new titles set for release this year, the company said Wednesday. The game maker is focusing on developing the console versions of the new titles -- DNF Duel, KartRider: Drift and Project Magnum -- as a core pillar to target more players across the world. DNF Duel, which is scheduled to be available from June 28, is a fighting game with characters from Nexon’s signature franchise Dungeon Fi
April 27, 2022
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Lemonex starts phase 1 clinical trials for gene therapy drug
Korean biotech company Lemonex said Wednesday that it will begin phase one clinical trials for its new siRNA gene therapy drug LEM-S401, following the approval of its investigational new drug application on April 15 by the Ministry of Food and Drug Safety. siRNA drugs inject small-interfering RNA molecules to augment or inhibit disease-related genes. LEM-S401 is a siRNA drug used to treat and prevent thick scars. The new drug is administered through DegradaBall, the company’s proprieta
April 27, 2022
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Mercedes-Benz works for children’s traffic safety
Mercedes-Benz Korea has continued to raise funds and run programs for social contributions through its Corporate Social Responsibility Committee since 2014. In March, the Korean arm of the German automaker raised 1 billion won to help residents in eastern coastal regions affected by forest fires. In 2020, the company raised 1.8 billion won to help medical staff and those vulnerable to COVID-19. Since its launch eight years ago, Mercedes-Benz CSR Committee has raised a total of 35 billion won
April 27, 2022
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LG Energy Solution to invest W7tr this year to ramp up production
LG Energy Solution said Wednesday it plans to invest 7 trillion won ($5.54 billion) this year to boost its production capacity in key markets while improving profitability overall by offsetting the impact from supply chain constraints and rising costs. The South Korean battery giant unveiled its plans during an earnings conference call earlier in the day. The big spending, up more than 10 percent from 6.3 trillion won announced in February, will be poured into the US, a burgeoning EV market w
April 27, 2022